Private Advisory Group LLC acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,135 shares of the company's stock, valued at approximately $819,000.
Several other large investors also recently modified their holdings of SPXC. Vanguard Group Inc. grew its position in shares of SPX Technologies by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company's stock worth $637,067,000 after buying an additional 173,021 shares in the last quarter. Earnest Partners LLC grew its holdings in SPX Technologies by 3.3% during the 2nd quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock worth $151,582,000 after acquiring an additional 33,675 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of SPX Technologies by 17.4% in the 2nd quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock worth $73,972,000 after purchasing an additional 77,008 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of SPX Technologies by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock valued at $56,516,000 after purchasing an additional 8,931 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock worth $47,069,000 after purchasing an additional 235,720 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.
Separately, Oppenheimer cut SPX Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 18th.
Check Out Our Latest Stock Analysis on SPX Technologies
SPX Technologies stock opened at $168.87 on Friday. The company has a market cap of $7.82 billion, a PE ratio of 76.07, a P/E/G ratio of 1.66 and a beta of 1.21. SPX Technologies, Inc. has a 12 month low of $77.84 and a 12 month high of $169.52. The company has a fifty day moving average price of $154.21 and a two-hundred day moving average price of $142.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.
SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.17. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The company's revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts expect that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.
SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.
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